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...started in 2005 with Ken Lerer and viral-marketing guru Jonah Peretti, became the 15th most popular news site, just below the Washington Post's and above the BBC's. It garnered 8.9 million unique users that month, according to Nielsen - more than double what it attracted a year ago. It gets a million-plus comments from readers a month. A business newswire recently valued the site at more than $90 million. Only one independently held online-content company (Nick Denton's Gawker properties) is worth more...
...Here AIG seems an unlikely candidate for the company that could bankrupt the planet. Founded 90 years ago in Shanghai, AIG moved its headquarters to New York City as the world headed toward war in 1939. After Maurice R. (Hank) Greenberg took over in 1967, AIG consolidated its global empire. By the time Greenberg was forced out in an accounting scandal 38 years later, AIG had become one of the world's biggest public companies, with sales of $113 billion in 2006 and 116,000 employees in 130 countries, from France to China...
...very large deals have been done recently. Most were first proposed several months ago. They were likely to work because they were what investment bankers call "strategic." Usually that means that the two companies involved are in the same business. They see "synergies" which involve things like taking the R&D geniuses from the acquiring company and putting them in the same room with their counterparts from the firm being acquired. Working together may set off the creative sparks that drive new discoveries. Or, they may not. The real but hidden definition of the word "synergy" is firing lots...
Cheap is getting expensive. The environment for M&A may not be as safe as it was two years ago, but the targets have begun to cost more...
Like most multinational corporations, Unilever, the Anglo-Dutch household-products giant, is feeling the sting of the global recession. But at least one part of Unilever's empire is doing fine. Several years ago, the company launched a corporate-social-responsibility (CSR) program, in which it hired thousands of Indian women to sell the company's soaps, detergents and other items in their home villages, most of them too small and remote to rate a visit from a Unilever sales representative. The program, called Shakti (Energy), was meant to aid some of the company's poorest customers...